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Anthropic counters OpenAI with $1 AI offer to government branches

Anthropic detects 22 Firefox vulnerabilities in AI security review

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Tag: Nigeria

IMF lowers 2024 growth projections for Nigeria
Economy

IMF lowers 2024 growth projections for Nigeria

The International Monetary Fund reduced its October prediction of 3.1% for Nigeria’s GDP growth in 2024 to 3.0, which is a 0.1% reduction. The IMF made this known in its updated World Economic Outlook for 2024 and 2025. The analysis predicts that Sub-Saharan Africa’s GDP will expand by 3.8% in 2024 and 4.1% in 2025, […]

Netflix co-founder Reed Hastings donates $1.1bn to charity
Tech

Netflix co-founder Reed Hastings donates $1.1bn to charity

Netflix’s co-founder and executive chair, Reed Hastings, has made a remarkable philanthropic move by donating 2 million Netflix shares, valued at over $1.1 billion at the current market price, to the Silicon Valley Community Foundation in Mountain View, California. This substantial donation, representing around 40% of Hastings’ Netflix holdings, was disclosed in a recent Securities […]

Geregu Power reports 110% rise in profit
Business

Geregu Power reports 110% rise in profit

A major player in Nigeria’s energy sector, Geregu Power Plc, has reported a staggering 110% increase in operating profit in its just issued 2023 audited financial statement. According to Nairametrics, this enormous growth demonstrates the company’s robust business model and strategic objectives, which have positioned it as an industry leader. The company’s financial performance for the fiscal year ending […]

X lifts search ban on Taylor Swift
Tech

X lifts search ban on Taylor Swift

Social media company X reversed the ban on searches for Taylor Swift on Monday evening, which had been implemented after fake sexually-explicit images of the pop singer circulated on the platform. The search functionality has now been reinstated, and Joe Benarroch, head of business operations at X, stated on Monday, “We will continue to be […]

MTN Nigeria CEO advocates local assembly to lower smartphone costs
News

MTN Nigeria CEO advocates local assembly to lower smartphone costs

The Chief Executive Officer of MTN Nigeria, Karl Toriola, has emphasized the high cost of mobile phones as a barrier to digital inclusion in Nigeria. Toriola mentioned this during a recent interview with Arise TV. According to him, while worldwide demand has resulted in a decrease in smartphone costs, Nigeria alone may not generate enough demand to […]

ChatGPT’s AI image feature delayed for free users
Tech

Italy accuses OpenAI of data breaches

Italy’s data protection authority, Garante, informed OpenAI on Monday that its ChatGPT artificial intelligence chatbot application violates data protection rules. Garante, known for its proactive stance in evaluating AI platform compliance with the EU’s data privacy regulations, had previously banned ChatGPT last year over alleged breaches. Following adjustments made by OpenAI, the service was reinstated, […]

Pension funds climb by 22% to N18tn - NAICOM
News

Pension funds climb by 22% to N18tn – NAICOM

The total assets under the Contributory Pension Scheme hit N18.36 trillion by the end of 2023, according to National Pension Commission data. The PUNCH reported that PenCom’s unaudited report on pension funds sector portfolio for the period ended December 2023; Approved Existing Schemes, Closed Pension Fund Administrators and RSA funds (including unremitted contributions @CBN & […]

OPay launches security features to secure clients' funds
Business

OPay launches security features to secure clients’ funds

Nigerian financial technology company, OPay, has introduced a number of security measures to combat financial fraud. The PUNCH reported that according to the corporation, the program aimed to improve platform security and protect clients from fraudulent actions. OPay stated that it was recently recognized by the World Economic Forum and given the customer choice award by […]

Business

Amazon pulls out of iRobot acquisition

Alex Omenye Amazon’s attempt to acquire iRobot, the renowned robotic vacuum manufacturer, has come to an end due to challenges faced with European regulators. Both companies have decided to mutually terminate the previously-announced acquisition agreement, where Amazon intended to buy iRobot for approximately $1.7 billion in cash, or a slightly lower amount. The companies issued […]

Linktree adds new features for users
Business

Linktree adds new features for users

Alex Omenye Linktree, the link-in-bio platform, on Monday, unveiled new features, including link scheduling, archiving, and automated retrieval of the latest videos from YouTube and TikTok. Users can now schedule links to go live at specified dates and times, aligning with different time zones for targeted releases. The Australia-based startup also introduced an archiving feature, […]

CBN stops foreign oil corporations from sending all fx proceeds abroad
Banking featured

CBN releases additional $500m to clear FX backlog

The Central Bank of Nigeria has granted an additional $500 million to get rid of the verified FX backlog. According to The Times, the Acting Director of the apex bank’s Corporate Communications Department, Mrs Hakama Sidi Ali, verified this on Monday in Abuja. The central bank’s new release of $500 million comes just a few days after […]

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